Malaria Diagnostics Market is Expected to Rise at a Suspectable CAGR of 4.6% During Forecast 2018-2023
Market
Highlights:
Primary
and precise diagnosis of malaria is essential for both fast and effective
disease management and observation. Superior quality malaria diagnosis systems
are important in all settings as misdiagnosis or misinterpretation can result
in substantial morbidity and mortality. World Health Organization (WHO)
recommends a quick malaria diagnosis either by microscopy or malaria rapid
diagnostic test (RDT) in all patients with suspected malaria before treatment
is being administered. Diagnostic testing improves the overall management of
patients with febrile illnesses and may also help to decrease the emergence and
spread of drug resistance by storing antimalarials for those who have the
disease. The scope of malaria diagnostics is growing rapidly with technological
advancements and a growing number of investments. Also, growth in a number of
hospitals and healthcare facilities, and initiatives taken by the government
are the major factors driving the growth of the malaria diagnostics market.The
malaria diagnostics market is expected to grow at 4.6% CAGR during the forecast period
However,
the dearth of appropriate monitoring standards at the country levels
particularly in developing markets hinders the growth of the market. The weak
regulatory framework and lack of awareness across the emerging nations is also
a prime concern for the manufacturers and healthcare providers.
Key
Players:
Some of
the key players in the global malaria diagnostics market are
· Abbott Laboratories
· Premier Medical Corporation Pvt
· Sysmex Partec GmbH
· bioMérieux
· Beckman Coulter Inc
· Siemens Healthineers
· Leica Microsystems GmbH
· Nikon Corporation
· Olympus Corporation
· Bio-Rad Laboratories Inc
Segmentation:
·
The
global malaria diagnostics market has been segmented on the basis of technology
and end-user.
·
On the
basis of technology, the market has been classified as rapid diagnostic tests,
microscopy, and molecular diagnostic tests. The molecular diagnostics tests are
segmented into polymerase chain reaction (PCR) and real-time polymerase chain
reaction (RT-PCR).
·
On the
basis of end-users, the market has been classified as hospitals, clinics,
community healthcare, and others.
Regional
Analysis:
The
Americas is projected to lead the malaria diagnostics market in the forecast
period. Increasing healthcare awareness, advancement in technology, medical
tourism are some other factors that boost the growth of the market.
The
European market is expected to hold the second largest market share. The
European market is projected to grow because of the malaria cases brought in
the European region by tourists and refugees. The European Centre for Disease
Prevention and Control, stats reported a range of 5000 -7000 cases of malaria
from 2008 to 2012.
Asia-Pacific
is projected to be the fastest growing region for the global malaria
diagnostics market in 2018. The market is expected to witness growth owing to
the rising patient population, changing lifestyle, and growing elderly
population. This is expected to provide favorable backgrounds for the market to
grow. The diagnostic testing market, by volume, in India is controlled by
microscopy testing. With increasing awareness and growing funding from
care-based surveillance systems, private sectors and national governments the
necessity for diagnostic testing procedures are projected to rise, thereby
boosting the market development.
The
Middle East and Africa accounts for the least share due to stringent government
policies and low per capita income. Southeast Asia accounted for about 10% of
the global cases, however, the death rate was around 7% in the same year.
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